Uganda: Why MTN Uganda Boss Gouldie Is Leaving

On May 26, Brian Gouldie, the Chief Executive Officer of MTN Uganda appeared sharp in a navy blue suit, light blue shirt and yellow dotted tie as he presided over the announcement of the company's new syndicated loan at the MTN Towers in Kampala.

He couldn't have been sharper for a man who was announcing a $114 million (Shs380 billion) loan acquisition and who was accompanied by the biggest names in banking in town - Stanbic Bank's Patrick Mweheire, Standard Chartered Bank's Herman Kasekende, Citi Bank's Robert Jjagwe and Barclays Bank's Rakesh Jha - who put together the loan.

But as Gouldie spoke about the company's future prospects, very few in the room could imagine that a decision had earlier been taken in South Africa to bring his tenure at MTN Towers to an end. The Independent has learnt that the decision by the board not to renew Gouldie's contract, which officially ends this June, was influenced by a procurement saga and poor performance indicators. The telecom's shareholders have been getting jittery over dropping revenues, profits and loss of value through 'grey traffic.'

But an alleged decision by Gouldie to influence the procurement of extra agency services worth a million dollars (Shs. 3.3 billion) from a South African-based company when they were already being offered locally seems to have sealed his fate.
Read the full story in The Independent here: